Energy Recovery Awarded $2 Million in Desalination Orders in 5 Countries
New Orders in Egypt, Italy, Spain, UAE, and Vietnam
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced new desalination orders for projects utilizing its PX® Pressure Exchanger® Technology in Egypt, Italy, Spain, the United Arab Emirates, and Vietnam. Collectively, these original manufacturer (OEM) projects represent approximately $2 million in revenue and are expected to be delivered by the end of the third quarter.
Project Overview
- A joint venture between two desalination leaders in Spain, Elmasa Tecnología del Agua, S.A (ELMASA) and CANARAGUA, will be using Energy Recovery’s PX-Q300 devices for a desalination plant retrofit in Spain. The technology will replace Pelton turbines.
- Hyundai Engineering and Construction, a global engineering company headquartered in Seoul, will partner with Aquatech International, a worldwide desalination leader based in Pennsylvania, to use Energy Recovery’s PX-Q300 devices in a new offshore oilfield project near Abu Dhabi.
- Veolia Environment SA, a Paris-based transnational environmental services company, will use Energy Recovery’s AquaBold and AT-875 Turbocharger for a new plant in Sinai, Egypt.
- Protecno, based in Italy, will use Energy Recovery’s PX Pressure Exchangers and booster pumps as their standard units in their SWRO plants, and will keep them in their stock for fast-track opportunities.
- Protecno will also use the PX Pressure Exchanger and booster pumps for a new undisclosed plant location in Italy.
- Hyorim Industries Inc., an international manufacturer based in Korea, will use Energy Recovery’s PX Pressure Exchanger, Aquabold pumps, and circulation pumps for a new desalination plant in Vietnam. While Energy Recovery has partnered with Hyorim in the past, this will mark the first time the company has used PX Pressure Exchanger devices with Energy Recovery pumps.
Joey Gay, Chief Executive Officer of Energy Recovery, stated, “We continue to increase our global footprint with small- to medium-sized OEM orders. We intend to announce similar orders in the future to keep our investors informed of our ongoing progress, from the constant flow of projects such as these to the larger projects that we undertake in the oil & gas, chemicals, and water segments.”
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning solutions to improve productivity, profitability, and energy efficiency within the oil & gas, chemical, and water industries. Our products simplify complex systems and protect vulnerable equipment. By recycling fluid pressure that would otherwise be lost in critical processes, we save clients more than $1.4 billion (USD) annually. Headquartered in the San Francisco Bay Area, Energy Recovery has offices in Shanghai and Dubai.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions including the timing of shipments. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected shipment date of the referenced products are forward-looking and involve risks and uncertainties. Energy Recovery disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Media:
Energy Recovery Inc.
Alex Dolan, +1 510-746-2574
adolan@energyrecovery.com
or
Investors:
The
Equity Group Inc.
Adam Prior, +1 212-836-9606
aprior@equityny.com
Source: Energy Recovery Inc.
Released May 5, 2015